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Reserve Bank of Malawi cuts rates to 13.5%

The Reserve Bank of Malawi (RBM) has cut rates by 100 basis points to 13.5%, citing a strong economic outlook and declining inflation.

In a statement on May 3, the monetary policy committee announced its sixth cut to interest rates since 2016, when the interest rate was 27%. Policy-makers described the economic outlook of the country as “quite positive”, and raised their forecast for GDP growth while lowering their inflation forecast.